SOURCE: New Wave Holdings, Inc.

New Wave Holdings, Inc.

January 29, 2015 15:23 ET

Shareholder Update: New Wave Holdings, Inc. Finalizes Sale of GreenStar to SinglePoint

LAS VEGAS, NV--(Marketwired - Jan 29, 2015) - New Wave Holdings, Inc. (OTC: NWAV) is pleased to announce it has finalized the sale of GreenStar Payment Solutions, Inc. to SinglePoint (OTC: SING) and, as consideration for GreenStar, has received 1,650,000 shares of common stock in SinglePoint. The issuance was based on a price of .015 per share. The asset will be added to the NWAV balance sheet in the Company's annual filing. Q3 filings are expected in the coming days, which will have the Company listed at the Current Information Tier on OTC Markets again.

"We're happy to have finalized this transaction," states Chairman, Mark B. Newbauer. "I'm confident that Greg (Lambrecht) and the team at SinglePoint will do wonderful things toward collective benefit. In the meantime, we have entered discussions with Chris Mills of GreenHouse Payment Solutions, to head up a payments division dedicated to servicing the legalized Cannabis industry, which will include work to launch a prepaid rewards card to market. Not only do we feel this will complement GreenStar's efforts toward increased value in our shares there, but it will also allow us to benefit directly from the legalized cannabis markets by sponsoring Mills and GreenHouse in all their endeavors, allowing us to participate in multiple prospective revenue streams."

As well, the Company is currently interviewing for an incoming CEO with a strong background in the prepaid markets that will devote the necessary time, energy and strategies necessary to bring increased opportunity, industry position and shareholder value in New Wave.

In regards to program launch, New Wave is eagerly awaiting response from its issuing bank on final approval of the SchoolFuel Program. Praxell has a longstanding relationship with the issuing bank and has officially partnered with the program to see it through to success. "Our program managing partner has been of tremendous assistance the past few weeks to ensure priority review of the Program application," states Newbauer.

The SchoolFuel program is a reloadable prepaid debit card that streamlines fundraising for schools, churches and intramural teams in a way like never before. "The average scrip percentage earning is about 5% on purchases," states Newbauer. "We've talked to schools that do anywhere from $500k to over $1m in Scrip spending every year that have shown interest in our program. The amount of monies raised for good causes through the average, every day use of a debit card can easily amount to $500-1000 per year, per family and significant potential for earnings to SchoolFuel as program manager. We couldn't be more excited to introduce this program to schools everywhere upon approval."

The card will be co-branded by a global technology and payments industry leader and will include features such as bill payment, direct deposit, check scan deposits and more. 

As well, once Quarterlies are updated to effect Current Information Tier, the Company will update its corporate website and social media page(s) to reflect current branding.

New Wave Holdings is a Holding Company focused in electronic payment services and solutions with a focus in bringing innovative prepaid programs to market. The company strives to be a leading contender in the issuance of prepaid solutions and services that are both highly marketable and with socially conscious profitability.

Forward-Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

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